Ethereum Surges 7.1% on Mixed CPI Report, Outperforms Bitcoin

The Ethereum price jumped 7.1% to $2,609.99 on Friday, outperforming both Bitcoin and the Nasdaq Composite following a mixed U.S. inflation report.

The Bureau of Labor Statistics reported that headline consumer prices rose 0.4% in August and 3.4% from a year earlier, with gasoline accounting for more than one-third of the overall increase.

Core CPI, excluding food and energy, rose 0.3% for the month, while its annual rate eased to 2.4% from 2.5% in July.

The rally appears to be a high-beta risk trade rather than a clean bet on sharply lower interest rates, with Ethereum's outperformance being the key signal.